Archive for 2017

The Employee Suing SoFi Only Worked There for Three Months

August 15, 2017
Article by:

Courtroom

On Monday, several news outlets reported that a former employee of SoFi was suing for wrongful termination after he not only reported sexual harassment in the workplace, but also exposed an internal loan cancellation scheme designed to pad the bonuses of certain employees. According to the complaint, which you can read for yourself here, plaintiff […]

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LendingPoint: CAN Capital’s Close Neighbor in Kennesaw

August 14, 2017
Article by:

welcome to kennesaw

This article is from deBanked’s Jul/Aug 2017 magazine issue. To receive copies in print, SUBSCRIBE FREE LendingPoint, a consumer lender staffed largely by former CAN Capital employees, may have something to teach the alternative small-business finance industry about creditworthiness. Three-year-old LendingPoint claims to go beyond FICO scores to bring each applicant’s sense of fiscal responsibility […]

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Is The End Near For This Debt Settlement Firm?

August 11, 2017
Article by:

Wall Street Wolf

Corporate Bailout, a New Jersey based firm that purports to help businesses lower the monthly payments on their debts, is back in the news. This time it’s for allegedly running a sex-fueled office with stripper parties, sex dolls, and sexual harassment, according to the New York Post who published video footage of the debauchery. Warning: […]

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Damage From the Nulook Capital Bankruptcy Shows Up In GWGH Earnings

August 10, 2017
Article by:

broken window

In April, we reported that Nulook Capital, a boutique merchant cash advance funder on Long Island had declared Chapter 11. The move was seemingly a response to a lawsuit filed against them by a secured creditor, GWG MCA, a subsidiary of publicly traded financial services company GWG Holdings Inc. (NASDAQ: GWGH). In that bankruptcy, a […]

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Funding Circle Rebrands

August 10, 2017
Article by:

Funding Circle new vs old

Funding Circle is ditching their old circular logo with arrows in favor of a more modern purple logo. The website has also undergone a redesign as well. On the new website, the company states that they are “revolutionising a broken system” and emphasize that “we believe in those made to do more.” In a recent […]

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PayPal Scoops Up Swift Financial

August 10, 2017
Article by:

Darrell Esch

Above: Darrell Esch, VP and Commercial officer, Global Credit, PayPal Online lending M&A is under way. PayPal is bolstering its merchant lending capabilities with the addition of Swift Financial. While the deal was kept under wraps, some industry participants heard some buzz about a possible combination. PayPal has been investing in its lending arm of […]

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Company Founded By LendIt’s Co-founders Has Acquired LendingRobot

August 10, 2017
Article by:

NSR Invest / LendingRobot

NSR Invest has acquired LendingRobot to become the largest robo-advisor in the alternative lending space, according to an announcement made by both companies. Of note is that three of NSR Invest’s co-founders, Peter Renton, Bo Brustkern, and Jason Jones, are also co-founders of the LendIt Conference. The acquisition is a reminder that the conference founders […]

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On Bloomberg: Watch Lending Club CEO Scott Sanborn Talk Q2

August 9, 2017
Article by:

Sanborn Bloomberg

On Bloomberg, Lending Club CEO Scott Sanborn said that banks were a critical piece of their platform. In Q2, 44% of all originations were funded by banks. Watch below: Video not loading? Click here

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Breslow: The Advantage Goes to Scale Players

August 8, 2017
Article by:

Noah Breslow, CEO, OnDeck

Above: Noah Breslow, CEO, OnDeck OnDeck’s recent quarter answered a host of questions that surrounded the online lender, touching on everything from market share gains, to year-end profitability, to double-digit loan origination growth on the horizon. Another major growth driver that took the spotlight was the partnership between OnDeck and JPMorgan Chase, which has been […]

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Lending Club Has Become the Domain of Banks as Peer-to-Peer Continues Decline

August 8, 2017
Article by:

originations by source

Lending Club’s latest quarterly report revealed the future of their platform, as a conduit for banks to make personal loans. As illustrated below, banks have gone from funding only 13% of originations three quarters ago to 44% of all originations in the most recent quarter. That’s an increase from $265 million to $955 million. Source: […]

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